Mitsubishi UFJ Trust & Banking Corp boosted its position in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 489.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,300 shares of the company’s stock after buying an additional 61,700 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Wheaton Precious Metals were worth $8,631,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of WPM. TD Waterhouse Canada Inc. grew its holdings in Wheaton Precious Metals by 9.4% during the third quarter. TD Waterhouse Canada Inc. now owns 809,093 shares of the company’s stock valued at $89,886,000 after purchasing an additional 69,496 shares during the last quarter. J. Safra Sarasin Holding AG lifted its stake in shares of Wheaton Precious Metals by 38.5% in the third quarter. J. Safra Sarasin Holding AG now owns 68,485 shares of the company’s stock worth $7,659,000 after buying an additional 19,050 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Wheaton Precious Metals in the third quarter worth $11,355,000. Varma Mutual Pension Insurance Co boosted its holdings in shares of Wheaton Precious Metals by 8.5% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 207,358 shares of the company’s stock worth $23,210,000 after buying an additional 16,300 shares during the period. Finally, TD Asset Management Inc boosted its holdings in shares of Wheaton Precious Metals by 3.5% during the 3rd quarter. TD Asset Management Inc now owns 7,252,054 shares of the company’s stock worth $811,726,000 after buying an additional 244,027 shares during the period. Institutional investors own 70.34% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. UBS Group upgraded shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Friday, March 27th. Wall Street Zen downgraded Wheaton Precious Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Scotiabank lifted their price objective on Wheaton Precious Metals from $175.00 to $178.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 16th. TD Cowen increased their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, BMO Capital Markets initiated coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 target price on the stock. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.45.
Key Wheaton Precious Metals News
Here are the key news stories impacting Wheaton Precious Metals this week:
- Positive Sentiment: Wheaton added a 1.5% net-smelter-return (NSR) royalty on gold and silver from the Spanish Mountain project, expanding its royalty portfolio and growth pipeline; the piece also notes WPM is a Goldman Sachs top gold pick. Wheaton Precious Metals Corp. (WPM) Bolsters Gold Portfolio with Spanish Mountain Royalty Deal
- Positive Sentiment: Analysts expect Q1 earnings growth and WPM is flagged as having the right setup for a likely earnings beat next week, which supports upside from fundamentals and could lift sentiment if results meet or exceed forecasts. Wheaton Precious Metals Corp. (WPM) Reports Next Week: Wall Street Expects Earnings Growth
- Neutral Sentiment: Gold-sector peers are heading into earnings with mixed drivers — higher gold prices and new mine output are supportive, but cost inflation is a recurring theme; those sector dynamics could influence WPM’s post-earnings reaction. B2Gold Set to Report Q1 Earnings: What’s in Store for the Stock?
- Neutral Sentiment: Peer outlooks such as IAMGOLD’s strong forecast (helped by project ramp-ups) suggest industry-level upside from robust gold prices, which could benefit royalty companies like Wheaton if realized. IAMGOLD to Report Q1 Earnings: What’s in Store for the Stock?
- Negative Sentiment: Despite the positive news, shares are trading lower today and sit below the 50-day moving average, with volume under its recent average — technical pressure and short-term profit-taking may be weighing on the stock.
Wheaton Precious Metals Price Performance
Shares of Wheaton Precious Metals stock opened at $125.61 on Friday. The company has a market cap of $57.04 billion, a PE ratio of 38.77, a price-to-earnings-growth ratio of 2.65 and a beta of 0.50. The firm has a fifty day moving average price of $140.42 and a two-hundred day moving average price of $126.31. Wheaton Precious Metals Corp. has a fifty-two week low of $75.42 and a fifty-two week high of $165.76.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.31. The company had revenue of $864.71 million for the quarter, compared to the consensus estimate of $719.59 million. Wheaton Precious Metals had a net margin of 63.58% and a return on equity of 17.17%. The business’s revenue was up 127.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 EPS. Analysts expect that Wheaton Precious Metals Corp. will post 4.88 earnings per share for the current fiscal year.
Wheaton Precious Metals Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Tuesday, March 31st were paid a dividend of $0.195 per share. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a yield of 0.6%. The ex-dividend date was Tuesday, March 31st. Wheaton Precious Metals’s dividend payout ratio is presently 24.07%.
About Wheaton Precious Metals
Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.
The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.
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